The thirty-year old rules of insurance will be supplanted by a new regulation which aims to better protect consumers and ensure the solvency and to modernize the competition and supervision. The Commissioner for EU internal market Charlie McCreevy explained that the proposed directive called "Solvency II" if enacted, "will revolutionize the way CUIA solidity is guaranteed insurance companies, "with this proposal, McCreevy added" establish a model unique in the world that will force insurers to focus on risk management "with the objective of enhanced solidity companies that can ensure you have sufficient capital to deal with special circumstances such as storms, floods or serious car accidents. Under the new rules, insurers must be able to manage other risks, for example, to market, in case of loss of investment capital and not having to have insurance covering only risks, as in the existing legislation. Under the new rules insurance companies will equip a 'group supervisor with specific responsibilities together national supervisors can be assessed according to all the needs of the whole risk and solvency. This figure, McCreevy hopes, will also be included in the banking sector. Regarding the timing expected by the Commission, came in response to new rules from 2012 because's "despite the progress made there are still obstacles to overcome," said Commissioner McCreevy, but hopefully that will be passed "very soon." Italian MEPs, Donata Gottardi and Gianni Pittella declare themselves in favor of the legislative proposal positively evaluating the validity and are ready to engage in Parliament for the achievement 'target.

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